08 Mar Are You Ready to Expand Your Team?
As a business leader, you likely have many high-level, strategic growth initiatives on your plate! While strategy is likely top-of-mind in many areas of your business, are you thinking strategically when it comes to your hiring decisions — and at the very core, the decision to hire?
Sure, there are some obvious, pivotal moments for hiring, like when you feel overrun in your business, or know you are lacking support in a certain area. But beyond those reactionary hiring decisions, do you have an overarching when for setting an employee search process into action?
Today, we will share three signs that may indicate it’s time for you to hire!
Sign #1: You spend more time working in your business, rather than on it.
As coined by Michael Gerber in his book The E-Myth Revisited, exceptional leaders work on their business, not just in it. Leaders shouldn’t be constantly nose-deep in tactical execution. Rather, they must have the time and space for strategy, research, development… You get the idea.
Of course you shouldn’t be spending your valuable time doing administrative tasks – but this is about a lot more than that!
If you find yourself constantly…
● Putting out fires
● Connecting dots
… this all may reflect your company’s growing pains. Moreover, it may signal the need to expand, and create some additional space between the executive team and the bottom line, whether this means hiring for management positions, or bringing on specialized expertise in a given area.
Spend some time brainstorming what – and who – you would need to add to your process to alleviate these types of occurrences and add additional value to the company overall.
Sign #2: You’re looking to gain a bigger market share, expand into new markets.
If your brand has been at a standstill in terms of market expansion, that may be another reason to consider bringing additional team members on board.
No matter how effective and talented your employees are, there is an inflection point at which additional human capital is necessary for continued expansion. While hiring is an investment with significant cost associated upfront, the resulting growth opportunities will reward you tenfold.
Gaining a bigger market share may be your goal, or maybe you have your eye on new markets for your company to expand into. If the latter is your intended direction, you may need a different makeup of employees – but hiring may be your next step nonetheless.
As you consider your company’s future, reflect on the following questions:
● Do we need a higher quantity of employees, placed in existing organizational roles?
● Do we need to hire for new roles to address current internal needs or gaps?
● Do we need to hire trained professionals in certain industries to branch out into new markets?
Once you’ve determined the need to hire, these questions will help you start to develop your next steps as you launch your talent search.
Sign #3: You’ve noticed signs of employee burnout.
Finally, look to your current employees. How is your current team performing, and what do team members have to say about their current workload and capacity?
Step back and observe your team, and call on them for feedback. After all, your people are your greatest asset, and they have a unique perspective on the day-to-day needs of the business.
If your team members are working hard and still finding themselves overrun, this may indicate that it’s time to scale up your workforce.
Knowing when, how, and who to hire can be complicated – but we are here to help. Reach out today to partner with our team of hiring and recruitment experts in support of your growth!